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Swedish PMI for services rose to 49.1 in December as the decline in services activity slowed

Friday, 04 January 2013
The Swedish Purchasing managers' index for the services sector (PMI - services) rose in December by 2.8 index points to 49.1 compared with 46.3 in November. This means that the decline in the service sector sought of stagnated.

So the service sector is not nearly as bad as the sector would have demonstrated as the Swedish purchasing managers' index for the services sector rose slightly. The Swedish index, which is produced by Swedbank and purchasing and logistic organization, Silf, rose from 46.3 in November to 49.1 in December, shifting closer to the 50 mark that indicates growth.

Worst sub index was employment, which indicates a low employment needs in the service sectors. On the whole, all sub-indices included in PMI - services increased between November and December, but for supplier delivery times which ended up over the 50 mark.

Corporate business volume and delivery times accounted for the largest contributions to PMI - services rose. The decline in new orders slowed. Employment Index had the weakest performance, highlighting the low recruitment needs prevailing in the private sector.

Service Companies' production plans for the next six months have been revised upwards and the index increased by 6 index points to 55.9 in December from 49.9 the previous month. This is the highest level since August 2012, and suggests that service firms have a slightly brighter view of economic activity than before.

Index of suppliers' input prices rose to 50.9 in December from 49.9 in November. The image of a continued limited price pressures from the services sector remains.

Looking in Europe, the largest economy there, Germany, saw its PMI rose in the service sector purchasing managers' index to 52.0, the highest since April, from 49.7 in November. The overall index for both manufacturing and service sector reached just over 50. Thus, the German economy has escaped a GDP fall in the fourth quarter.
by Scancomark.com Team

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